Safer internet day: 5 online payment safety tips to always keep in mind

UPI payments really took off in India during the COVID pandemic. Today, UPI payments have been standardised across many parts of the country, including several rural regions. All users need to do to send or receive money, is pull out their smartphones.

However, many continue to stay clear of UPI payments because of the countless horror stories around scamsters duping new users into giving up money. Today, on the occasion of Safer Internet Day, we will look at five simple UPI tips highlighted by the NPCI (National Payments Corporation of India).

1. Understand UPI PIN usage

Your UPI PIN is the single most important aspect of UPI-based payments, controlling the deduction of money from your account. Understanding when you’re required to actually put in your PIN is very simple.

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Users are only required to enter a UPI PIN when they are sending money and expect an amount to be deducted from their connected account. You do not need the PIN to receive money from any individual or business. If someone tries to ask you for your UPI PIN to send you money, know that it is likely a scam.

2. Checking receiver’s UPI ID

To send someone money, you can use UPI ID or a QR code scanner which will take you to the UPI ID. However, it is a good practice to always confirm the same with the receiver before actually sending the money.

For instance, if you’re in a crowded market with a lot of shops and as many QR codes around you, its easy to send money to the wrong party. Always confirm the UPI ID with a receiver before you enter and send the amount.

3. Don’t share your UPI PIN

Your UPI PIN is like a password to your bank account, so it’s a good idea to treat it accordingly. Use the PIN only on the UPI PIN page and avoid entering it willingly or accidentally anywhere else, including on text messages to your friends and family members.

In the event of someone else learning about your UPI PIN, take swift action and ensure that you change your PIN as soon as possible. Contact your bank at once if someone has started misusing your UPI PIN to deduct your money.

4. Don’t scan QR codes for receiving money

Remember that you will scan a QR code only for paying an amount to the receiver. If you are the receiver, you do not need to scan any QR code to receive money in your account. Only the sender needs to scan your QR Code, or manually enter your UPI ID.

Always keep in mind that receiving money via UPI is a zero-step process, and if someone is asking you to scan a QR code so you can receive money, they may be trying to scam you.

5. Never use UPI payments with screen-sharing apps

Scamsters may also sometimes try to get you to install a screen sharing app which can monitor your UPI PIN and other sensitive information when you use the app to make a payment.

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Always ensure that you download no app to send/receive any payment, as all you need for sending or receiving any amount is a UPI application like Google Pay or Paytm.

These are five tips that should help you stay safe and keep your funds secure when using UPI payments via any supported app. Remember to always keep your UPI PIN private and secure, and never click on any suspicious links to send/receive money.